USA: 31 week 2022 cattle market overview

Live cattle futures on the Chicago Mercantile Exchange (CME) strengthened to their highest level in more than three months on Friday, while hog futures returned to a 13.5-month high on Wednesday, REUTERS reported.

August livestock futures on the CME edged up 0.175 cents to 137.875 cents a pound, with the next month contract reaching its highest level since April 29 during the session, while the most active October futures rose 0.225 cents to 143.875 cents.

September feedstock futures rose 0.85 cents to 183.425 cents a pound.

U.S. beef exports remained strong in June, surpassing $1 billion for the fifth time this year (after hitting $1 billion twice in 2021), according to data released by the USDA and compiled by USMEF.

Beef exports in June were 130,638 metric tons, slightly below the record volume recorded in May, but up 16% year-over-year and the fourth-highest on record. The value of exports in June was $1.05 billion, also slightly below the May record, but up 31% from last year. In the first half of 2022, beef exports increased by 6% year-on-year to 743,904 tons worth $6.19 billion (up 33%).

“The performance of U.S. beef exports in the first half of the year was nothing short of outstanding, especially given mounting economic headwinds in many key markets and ongoing shipping and logistics challenges,” said USMEF President and CEO Dan Halstrom. “The recovery in the global foodservice sector has generated huge growth in 2022, although a full recovery is still a long way off in many countries in Asia and Europe. We definitely see room for further growth, although inflationary pressures and a stronger US DOLLAR continue to raise concerns about consumer purchasing power.”

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WEEKLY CUT CHOICE COST

CATTLE SALES

Sale of livestock, heads

Average weight

07/29/2022

08/05/2022

Growth per week,%

07/29/2022

08/05/2022

Growth,%

Bulls (live weight)

16 683

32 947

97.5%

1436

1439

0.2%

Heifers (live weight)

10 453

12 783

22.3%

1 329

1 294

-2.6%

Bulls (slaughter. weight)

12 659

14 777

16.7%

932

941

1.0%

Heifers (slaughter weight)

2795

3 199

14.5%

836

834

-0.2%

WEEKLY WEIGHTED AVERAGE PRICE OF BULLS

BEEF PRODUCTION

Slaughter volume

31 weeks

31 weeks 2021

Growth per year, %

Live weight

651 000

651 000

0.0%

slaughter weight

1345

1353

-0.6%

Beef production (million pounds)

813

820

-0.9%

Beef production (thousand tons)

528.2

527.1

0.2%

CME: Live Cattle Futures

Week 30

Week 31

Growth per week,%

August

136.45

137.88

1.0%

October

142.23

143.88

1.2%

December

148.15

149.98

1.2%

Futures for fattening cattle

August

178.58

179.53

0.5%

September

181.55

183.43

1.0%

October

183.73

185.95

1.2%

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